Ripple says latest ruling does not affect its legal victory
A US court rejected a proposed settlement between Ripple and the SEC regarding XRP, deemed "procedurally improper" by Judge Analisa Torres. Ripple's legal chief, Stuart Alderoty, stated this rejection does not undermine Ripple's previous victory, asserting that XRP is not a security. The court found that Ripple and the SEC failed to file the correct procedural motion to support their settlement request. The SEC will retain $50 million of a previously agreed $125 million fine. Community members expressed dissatisfaction with the lack of details on the procedural issues, seeking further clarification. Speculation arose about Ripple's influence on political announcements related to cryptocurrency reserves, particularly regarding a multi-coin strategy versus a Bitcoin-only approach.
